The new rule could leave developers looking for new funding sources and residents with even less affordable housing inventory. The proposed rule broadens the definition of what finance activities qualify as a community benefit. It also streamlines the new performance metric, which may not reflect the true investment in low- and moderate-income communities. The public comment period closes March 09, 2020.
Late last year, the Texas Senate released their 86th Interim Legislative Charges for each of their committees. For the Senate Intergovernmental Relations (IGR) committee, a review of the (LI)HTC program was listed as the committee’s top priority.
In Texas the report shows that the number of households that were moderately or severely housing cost burdened has grown from 1.3 million in 2008 to over 1.7 million by 2018.